The Hindu Business Line : Inflation rate marginally lower at 6.63%

At a glance
Primary Articles Group index shot up by 11.52%
Fuel, Power was up by 2.29%
Edible oil, cement, iron and steel prices higher

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New Delhi Feb. 23 The annual Wholesale Price Index-based inflation rose 6.63 per cent during the week ended February 10, marginally lower than the previous week's annual increase of 6.73 per cent — a two-year high. The reason for the year-on-year inflation rate staying close to the previous week's levels was mainly on account of the Primary Articles' Group index shooting up nearly 12 per cent and the heavyweight Manufactured Products Group index rising 6.4 per cent, Government data showed on Friday.

Inflation was measured at 3.81 per cent during the corresponding week the previous year.

Vegetables up

During the latest reported week, the Primary Articles' group index went up 11.52 per cent, with cereals seeing a 7.9 per cent increase in prices and fruit, vegetable prices shooting up 17 per cent on an year-on-year basis.

The Fuel, Power, Light and Lubricants group was up only 2.29 per cent, with diesel prices going up 3.39 per cent during the latest reported week and petrol prices up 4.72 per cent.

The heavyweight Manufactured Products' group index was up mainly on account of edible oil prices shooting up 15.22 per cent, cement prices going up 16.49 per cent and iron and steel prices increasing 15.39 per cent during the latest reported week.

The Textiles group was up 3.33 per cent, while medicine prices were up 2.65 per cent.

As per the figures released today, inflation has been revised to 5.73 per cent during the week ended December 16, against a provisional estimate of 5.43 per cent.

The revision followed change in final prices index number to 208.4 points as compared to 207.8 points estimated earlier.

Inflation had remained below six per cent during the last two years.

It hovered in the range of 5.0-5.5 per cent (the tolerance band projected by the RBI for 2006-07) during August-December 2006. In the beginning of January this year, inflation crossed the six per cent mark and has stayed above that ever since.

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